On-site Support for Rapid Recovery in Affected Areas:
Emergency Relief Kits, Tents, Meal Trucks, and Laundry Vehicles Provided
Financial Support Programs Include Emergency Special Loans, Maturity Extensions, Preferential Interest Rates, and Insurance Premium Payment Deferrals
On July 18, KB Financial Group announced that it would donate 2 billion KRW and launch a range of emergency support activities to aid recovery in regions affected by nationwide torrential rains and to help disaster victims return to their daily lives.
The 2 billion KRW donation from KB Financial will be used entirely for emergency relief and recovery in flood-affected areas, as well as for providing daily necessities and securing residential safety for disaster victims.
In addition, KB Financial will utilize its pre-established "disaster and calamity response system" to provide swift relief support in urgent disaster situations, working together with key subsidiaries such as KB Kookmin Bank, KB Insurance, and KB Kookmin Card to assist with recovery efforts.
To help disaster victims in affected areas quickly return to normal life, KB Financial will collaborate with Hope Bridge and the Salvation Army to promptly provide emergency relief kits (including blankets, hygiene products, and medicines), tents, meal trucks, and laundry vehicles. In the early morning of July 18, approximately 500 emergency relief kits were proactively supplied to the Dangjin and Asan regions, which were hit by heavy rain, and additional support will be provided as the situation develops.
Furthermore, a variety of financial support programs will be implemented, including special loans, maturity extensions, preferential interest rates, and deferment of insurance premiums and card payment dues.
KB Kookmin Bank will offer special loans within the scope of the damage amount. For personal loans, emergency funds for daily living stabilization will be provided. For business loans (including the self-employed and small to medium-sized enterprises), a preferential interest rate of up to 1.0 percentage point will be offered, with working capital loans of up to 500 million KRW and facility funds provided within the scope required for restoration of damaged facilities.
If an existing loan matures within three months, the maturity can be extended without additional principal repayment. For household loans, a preferential interest rate of up to 1.5 percentage points will be applied, and for business loans, up to 1.0 percentage point. If principal and interest are paid normally within three months from the date of the disaster, delinquency interest will be waived.
KB Insurance will allow long-term insurance customers to defer premium payments without delinquency interest. If an existing loan matures, the maturity can be extended without additional principal repayment, and if principal and interest are paid normally within three months from the date of the disaster, delinquency interest will be waived.
KB Kookmin Card will allow credit card payment dues to be deferred for up to six months. For long-term card loans (Card Loans), repayment can be deferred by changing the installment period or grace period. In addition, a 30% discount will be applied to fees for short- and long-term card loans used after the date of the disaster.
Customers eligible for the financial support programs of KB Kookmin Bank, KB Insurance, and KB Kookmin Card are those who have suffered disaster damage due to torrential rains and who submit a "damage confirmation certificate" issued by the relevant local administrative office. The application period is within three months from the date of the disaster.
A KB Financial representative stated, "We hope that those affected by this torrential rain can return to their daily lives in good health as soon as possible. We hope that the damage will not worsen, and KB Financial Group will do its utmost to provide support until recovery is complete."
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